Fulltime Robotics (丰坦机器人), a construction robot startup, has closed a pre-Series A funding round valued at tens of millions of yuan, Chinese media reported on December 26.
Proceeds from this raise, backed solely by Kinzon Capital, will be plunged into R&D production and commercial promotion.
Founded in May 2022 in Hangzhou, the provincial capital of eastern Zhejiang Province, Fulltime Robotics is dedicated to the development and manufacturing of construction robots.
Its flagship product is an indoor paint-spray robot capable of plastering putty and latex paint.
Fulltime Robotics claimed that small-scale mass production of the robot had begun, with over 10 million yuan (US$1.41 million) worth of orders already placed for the product.
The robot has been applied in more than 20 construction projects, covering a work area of 300,000 sqm, the firm added.
Leveraging 3D point-cloud, robotics and AI technologies, Fulltime Robotics has automated and digitalized traditionally manual construction work.
Shunned by the younger generation
Construction robotics has been all the rage over the past few years thanks to a labor shortage and an increasing tendency of the younger generation to shun this type of employment.
Fulltime Robotics is among a host of startups tapping into opportunities that arise in this field.
By combining AI recognition, inverse dynamic compensation algorithms, and high-precision auto navigation, its robots can respond to complex environments and replace human laborers in the course of undertaking putty and latex paint spraying jobs, according to the startup.
The company has employed its cost advantages and sold to overseas markets like Singapore, whose construction space is occasionally held back by relatively high wages.
Custom-made for Singapore
Fulltime Robotics told media that it will cement its presence in Singapore, by coming up with more custom-made products for constructors working on standard Singaporean flats.
These types of abode often feature a tight space, demanding that construction robots be smaller in size, possess adequate flexibility and paint from multiple angles.
“Fulltime Robotics has achieved commercialization in Singapore as the first step of its journey to go global,” said Jason Sun, an executive director of Kinzon. “We believe going forward, it has the ability to become a construction robotics firm with global perspectives.”